Metropolis builds payment infrastructure for parking facilities that lets customers "drive in and drive out" using computer vision to recognize license plates and automatically charge linked accounts. The platform powers more than 600 parking facilities, serves over 1.8 million users, and operates in more than 60 cities while connecting to thousands of nearby merchants. Metropolis provides an app where customers review visits and receive receipts, and it surfaces promotions and analytics for property owners and local businesses. The company was founded in 2017 and has pursued M&A and partnerships to accelerate growth, including the acquisition of Premier Parking and an Uber Park partnership. Management says proceeds from the latest financing will fund product development, expand the team, and push into new mobility-adjacent verticals; headcount is planned to grow from about 2,000 to 2,500 by year-end. To date the company has raised $226 million in total and reports strong investor interest as activity in cities rebounds. Metropolis is a Los Angeles-based company that builds computer vision and machine-learning systems to recognize cars as they enter and leave parking garages and power a parking payment and management service. Founder and CEO Alex Israel launched the business in 2017 after selling his prior company ParkMe to Inrix in 2015. The parking payment application is the company's beachhead, and Metropolis intends to layer broader mobility services on top of that foundation. Potential future services include cleaning, electric charging, storage and logistics, with the company positioning itself as an integrator and, in some cases, a direct service provider. Metropolis currently manages 10,000 parking spots for major real estate owners and plans to expand its footprint to more than 600 locations over the next year. The company has raised $60 million since 2017 and is pursuing growth focused on parking infrastructure and mobility.

Total raised

$208M

Funding rounds

2

Latest round

Series B

Latest activity

Jun 2022